On May 28, 2025, according to multiple sources, the state-owned investor shareholders of NETA Auto's parent company, Hozon New Energy Automobile, have been planning to convene a board of directors to dismiss founder Fangyunzhou from his position as chairman and CEO. If the resolution is passed, the helmsman who founded the brand in 2014 will completely lose control of the company. It is worth noting that the company just experienced a high-level adjustment in December last year, with former CEO Zhang Yong becoming a consultant and Fangyunzhou personally taking over daily operations.
Financial data shows that NETA Auto's cumulative losses exceeded 18.3 billion yuan between 2021 and 2025, and its debt-to-asset ratio soared from 68% in 2023 to 217%. Recently, it was revealed that it owed suppliers more than 6 billion yuan, resulting in core suppliers cutting off supply, factories stopping production, and dealers defending their rights. In addition, Fangyunzhou's 20 million yuan equity was frozen on May 13, and the 40.5 million yuan equity held by former CEO Zhang Yong was also frozen.
Currently, NETA Auto's main models include:
NETA S: Positioned as a mid-to-high-end electric coupe, with a starting price of 154,800 yuan, equipped with self-developed CTC battery technology;
NETA U/V series: SUV models for the mainstream market;
NETA X: Crossover models launched in 2024;
Fangyunzhou once promised to implement six major reforms, planning to achieve 50% domestic and foreign sales and overall profitability within 2-3 years, but as of May 2025, sales have not seen significant improvement.
This incident occurred against the backdrop of deepening reforms of state-owned auto companies. GAC, Dongfeng and other groups have recently intensively promoted resource integration, and Dongfeng has launched "Leap Action 2.0" to strengthen its new energy layout. Analysts pointed out that if NETA Automobile loses the leadership of its founder, it may face a restructuring led by state-owned assets or a merger with other new forces.
